How Much Can I Expect to Make?
When thinking about selling your home, you will want to know how much you can expect to receive. This answer depends on how much you can receive for your home in your current market and how much you will spend on any repairs and closing costs.
To assess the value of your home compared to others in the current market, it is best to request a comparative market analysis from a real estate licensee. If you have an older home that you know may be in need of substantial repairs and you have time (1-3 months) before you’d like to list your home, you may also consider paying an appraiser to conduct a pre-market appraisal on your home to identify any major repairs. If you can afford to fix the repairs ahead of time, you may be more likely to secure a quick and higher offer than had you not addressed the repairs. Using an online real estate information site to determine your home’s current value is not advised as detailed here.
Following the completion of a comparative market analysis or pre-market appraisal, you should receive a range of values that your home worth falls within. Your real estate licensee should provide you with a cost settlement sheet that factors in the closing costs for the highest value, lowest value, and a mid-value. Using these numbers, you can make an informed decision on what works best for you.
You will want to price your home such that you can secure the highest price and meet your financial goals, but at the same time price your home at a price that the market with bear. If you price your home too high, it may sit on the market for a long time. The longer your home sits on the market, the harder it is to sell. If you have a financial planner this may be an ideal time to bring them into the discussion with your real estate licensee.
In addition to the cost of repairs, you will need to factor in estimated closing costs also referred to as settlement charges. Keep in mind that these costs are reflective of Anchorage pricing and are meant to be only estimates. Please verify with your real estate licensee.
It is common for the buyer to ask for help with their closing costs when they make an offer or negotiate an offer on your property. Knowing that you are already responsible for paying the commission for their real estate licensee, this may seem like they are asking too much. But keep in mind that your costs will be covered by the sale of your house. You won't be bringing any cash to the table. From the buyer's perspective, especially if they are using a loan, they will want to save every dollar they can as they will be scraping together their hard-earned cash to make a down payment.